AeroVironment Loss Wider Than Estimates; Reaffirms FY Guidance

(RTTNews) - Drone maker AeroVironment Inc (AVAV) on Tuesday reported first-quarter net loss of $7 million or $0.30 per share compared with a loss of $3.6 million or $0.16 per share last year.

Excluding items, adjusted loss for the quarter was $0.24 per share compared with a loss of $0.18 per share a year ago.

Revenues for the quarter were lower at $47.1 million compared with $51.9 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.15 per share on revenues of $53.9 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company continues to expect revenues of $260 million to $280 million, and a gross margin of 36 percent to 37.5 percent. Analysts expect revenues of $269.4 million.